Markets Trade Higher, ONGC Rallies

Benchmark indices were trading higher, even as most of Asian markets were subdued and Dow Futures pointed to slightly higher openings for the US markets.

Most of the Asian markets were trading with slight gains with the Japanese Nikkei higher by near half per cent, while the Australian S&P/ASX 200 was also up and so were stocks in mainland China.

The Nifty was trading with gains of 61 points at 10,152 points.

Reliance shares once again gained in trade to hit a new record high and was up 1 per cent, after the company announced the eleventh investment in Jio Platforms by Public Investment Fund worth Rs 11,367 crore.

HDFC Asset Management Company saw its shares fall after the offer-for-sale (OFS) by promoter Standard Life Investments closed on Thursday and saw a subscription of 82 per cent of the portion reserved for them.

Tata Motors shares were trading higher, even as Moody's Investors Service said it has downgraded Tata Motors' corporate family rating and the company's senior unsecured instruments rating to B1 from Ba3.

Government owned MOIL shares dropped 3 per cent, after the company reported a sharp fall of over 90 per cent in its consolidated net profit at Rs 13.47 crore. The stock was last seen trading at Rs 152.70.